USA: Nature’s Path takes majority stake in Gorilly Goods
Nature's Path, a manufacturer of organic breakfast and snack foods, has acquired a majority stake in snacks firm Gorilly Goods, according to an article in Food Business News.
The firm will reportedly acquire a stake of 51% in Gorilly Goods, which makes raw and organic snacks predominantly from nut, seed and vegetable ingredients.
Nature’s Path said its involvement would provide the necessary capital for Gorilly Goods to increase its manufacturing scale, in addition to leveraging its retail network to expand distribution throughout North America and around the world.
Commenting on the transaction, Nature’s Path co-chief executive officer Arran Stephens said: "Gorilly Goods delivers the type of tasty, organic and nutritious on-the-go snacks our consumers seek. Combined with our distribution and sales network, this addition to the Nature’s Path family will be a screaming success".
Source: Food Business News